AI Memory Demand Lifts CXMT to China’s Most Valuable Company
Shares of Chinese reminiscence chipmaker CXMT rose about 470% on their Shanghai buying and selling debut Monday. The transfer lifted its market worth to roughly 3.3 trillion yuan.
The Hefei-based firm raised 57.92 billion yuan, or about $8.6 billion, in Asia’s largest preliminary public providing this 12 months. Investors bid it up as reminiscence costs climb amid demand for synthetic intelligence.
CXMT Stock Surge Shows Investors Still Chasing AI Memory Trade
CXMT priced its shares at 8.66 yuan and opened at 49.50 yuan. Only 6.73% of its enlarged share capital trades freely at itemizing, Reuters reported.
Individual traders submitted 9.4 million orders price 7.07 trillion yuan. That demand oversubscribed the retail tranche 212 instances. The retail order e book was roughly 10 instances bigger than SpaceX’s, which set the file for the largest IPO ever.
CXMT now ranks as probably the most priceless company listed in China. It displaced Industrial and Commercial Bank of China (ICBC), which beforehand held the highest spot.
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CXMT Debuts Into Surging AI Infrastructure Demand,
The financials behind the pop hint to surging international reminiscence demand. CXMT posted a first-quarter working revenue of 35.43 billion yuan, towards a 2.83 billion yuan loss a 12 months earlier.
The surge got here as contract costs for standard DRAM climbed roughly 93% to 98% quarter over quarter within the first quarter, TrendForce reported. Industry income rose 81% over the identical interval to $97 billion.
CXMT ranks because the world’s fourth-largest DRAM producer. The firm held a 7.67% share of the worldwide DRAM market in 2025, according to its prospectus. Samsung, SK Hynix, and Micron collectively managed about 90% within the first quarter of 2026.
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